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Ripple Analysis and Trading Strategy

BITSTAMP:XRPUSD   Ripple / Dollar
BITSTAMP:XRPUSD            

Ripple has been forming a triangle for the last 5 months, with higher highs and lower lows, building a ton of energy. If the triangle breaks above its upper trade line, about 27 cents, its minimum upside target would be about $0.49 cents (amount calculated by adding the longer distance of the triangle to the breaking point). But that is a conservative estimate, much likely it could reach the $1.00 dollar mark or more.

Breakouts of a triangle are usually fast and with high volume , so it should reach its target quickly. Last time it took 2 months to rise from one cent to 40 cents. Will see this time.

Conservative Trade should be: Buy once it's touches $0.28 dollars, with stop at $0.18. Selling 50% once it reaches $0.48 cents, and leaving the other half to see if it reaches $1.00 dollar or more.

Long Term Elliott Wave Count suggests we are in Primary Wave 4, of its first cycle wave. With wave 1 rising from $0.002901 on August 16, 2013, to $0.057516 on December 02, 2013 (19.82 to 1 ratio), wave 2 declining from $0.057516 on December 02, 2013, to $0.005495 on March 01, 2017, wave 3 rising from $0.005495 on March 01, 2017, to $0.414795 on May 17, 2017 (75.48 to 1 ratio).

If wave 4 ended on October 24, 2017 at about $0.183 dollars, at it rises 0.618% the ratio of wave 1 (19.82), that will mean it will have to rise to 12.25 times its low of $0.183 which would be equal to $2.24 dollars. Not impossible given Ripples fundamentals. Will see how much it rises from here to the middle of December.

https://coinmarketcap.com/currencies/ripple/#charts

Good Luck
Just the same in these one, I still see good potential in it, for a dollar or more, but right now it is still inside the triangle I mention before, and with the Segwit 2X Fork coming up on November 16, maybe we will continue inside the triangle until that date. But from here to December 20, I see it at $0.50 dollars, maybe $1.00 dollar or more. We’ll see.

Also, it is very close to giving us a MACD buy signal on the daily chart. We’ll see.

Good Luck to You
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I just wanted to add on my previous post about Ripple, it continued sideways for a few days and now it is going down. And it looks like it will want to retest the $0.1830 level, and maybe even go lower. If that breaks, next support is $0.17 dollars. But as you can see, it is declining with very little volume, and we have a positive divergence on the MACD histogram. As you can see in this chart:



I’m still holding, and still believe we will see a big move up to the end of the year. But on the near term, it seems that as long as Bitcoin weeks rising, Ripple and most of the Alt. Coins will remain week.

Good Luck in your decisions
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Hello, If this is elliot analysis, wave 4 can not be in territory below wave 1, the pattern is broken
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MexCrypto YepMario
@YepMario, At what time does wave 4 enters in the price territory of wave 1? Answer, never. Wave 1 is far away, you cannot see it in this chart because trading view only have the data of this year.
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MexCrypto YepMario
@YepMario, If you are talking about XRP in terms of Bitcoins, that is a completely different wave count than XRP in terms of USD Dollars. This is XRP in terms of USD Dollars.
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damdamm YepMario
@YepMario, You should zoom in. Wave 4 low 0.11414 and wave 1 top 0.06891. No problem with that.
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Thank you for this analysis
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MexCrypto Thierry15
@Thierry15, your welcome.
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